Miracle Mile Advisors LLC Buys New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Miracle Mile Advisors LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, HoldingsChannel reports. The fund purchased 3,076 shares of the company’s stock, valued at approximately $240,000.

Several other large investors have also added to or reduced their stakes in GEHC. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $31,000. Finally, Continuum Advisory LLC boosted its holdings in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 1.6 %

GEHC stock opened at $85.00 on Friday. The business’s 50-day moving average is $82.07 and its 200 day moving average is $84.26. GE HealthCare Technologies Inc. has a 12-month low of $71.31 and a 12-month high of $94.55. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.80 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEHC. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Evercore ISI upped their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.00.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.